The Cathay Group has announced its financial results for 2024, indicating a solid financial performance with an attributable profit of HK$9,9 billion (R23,3 billion) in 2024.
2023’s profit was HK$9,8 billion (R23,1 billion).
The group’s airlines and subsidiaries reported a profit of HK$8,8 billion (R20,7 billion) for 2024, a decline from its HK$9,2 billion (R21,7 billion) in 2023. Cathay Pacific and HK Express combined carried over 30% more passengers year on year, however strong competition in the region saw fares decreasing and there was a decrease in passenger yields. Cathay Pacific saw a 12% decrease in yield and HK Express a 23% decrease.
To build on its profits this year, Cathay has taken delivery of more than 100 new aircraft, as well as introducing new cabin interiors, new flagship lounges, and digital innovations.
“We are also continuing to expand our global network, having already announced 11 additional destinations for 2025, with more to come. Cathay Pacific and HK Express will operate passenger services to more than 100 destinations around the world within this year,” said Cathay Group Chair, Patrick Healy.
